India's crude oil production declines 5.3% in January 2020

Crude oil production declines 6.0% in April-January 2019-20

India's crude oil production declined 5.3% to 2.70 million tonnes (mt) in January 2020 over January 2019. Crude oil output of ONGC increased 1.2% to 1.79 mt, while that of Oil India rose 1.1% to 0.26 mt. however, the crude oil production of private and joint venture (JV) companies plunged 21.3% to 0.65 mt in January 2020.

ONGC's offshore output rose 1.0% to 1.27 mt, while onshore production improved 1.7% to 0.52 mt.

Crude oil output declined 6.0% to 27.07 mt in April-December period of the fiscal year ending March 2020 (April-January 2020), in addition to 3.8% decline recorded in the corresponding period of last year. Output of ONGC declined 2.8% to 17.18 mt, while that of Oil India fell 5.7% to 2.61 mt. Further, the crude oil production of private companies also eased 12.6% to 7.28 mt in April-January 2020 over April-January 2019.

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